TECH CRUNCH – Azar, a random video chat app owned by Match Group, has facilitated ~100B global chats and is now entering the U.S. market. Targeting mostly Gen Z users, it seeks to revive the popularity of random chat platforms like Chatroulette and Omegle, but faces challenges due to the negative reputation of these apps, including safety concerns. Azar employs AI and human moderators to prevent inappropriate content, distinguishing itself from its predecessors. Though not a dating app, some use it for that purpose, and its real-time translation feature connects users across languages. CEO Linda Kim believes their focus on safety will help Azar succeed in the U.S.
Category: Match Group
Dating Apps Revive In-Person Connections With Real-World Events
by Magdalene Taylor
See full article at Slate
Mark Brooks: Singles events on dating apps are window dressing and a means of generating buzz if they're done exceedingly well. They are a pain to manage and execute well but should be in every dating app's arsenal to show to the world that they can, indeed, draw a crowd.
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Match Group Promotes Steven Bailey as CFO, Gary Swidler to Continue as President
PRESS RELEASE – Match Group has promoted Steven Bailey to Chief Financial Officer, effective March 2025, while Gary Swidler will remain President. Bailey, who has been with the company since 2012, previously served as Senior Vice President of Financial Planning & Business Operations, overseeing financial strategy, real estate, and business technology. Before Match Group, he held financial leadership roles at Dow Jones. Match Group will host its first Investor Day on December 11th to share insights on its long-term strategy and growth plans.
New Competitors – Sniffies, Archer, and Motto – Challenge Grindr’s Dominance
FAST COMPANY – Sniffies, Archer, and Motto are emerging competitors to Grindr by focusing on specific aspects of the LGBTQ+ dating scene. Sniffies emphasizes anonymous hookups through a map-based interface, catering to users exploring their sexuality. Archer, from Match Group, targets users looking for more genuine connections by requiring photo verification and focusing on dating rather than casual encounters. Motto, created by Grindr's founder, removes anonymity completely by requiring headshots. Despite these challenges, Grindr remains dominant, expanding its features and focusing on user needs.
by Henry Chandonnet
See full article at Fast Company
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Dating Apps Shift Focus to Friendship Amid Growth Challenges
FINANCIAL TIMES – Bumble, Match Group, and Muzz are expanding into friendship and community-building to boost growth as dating app usage slows post-pandemic. Bumble is scaling its BFF app and recently acquired Geneva, a community-building product. Match launched Yuzu, allowing users to toggle between social and dating modes. Muzz introduced Muzz Social, connecting users by location and interests.
See full article at Financial Times
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Hinge CEO Says He Bribed Students With KitKats
FORTUNE – Justin McLeod, founder of Hinge, started the dating app while at Harvard Business School. Initially struggling to attract users, he bribed students with KitKats and managed to attract only a few dozen sign-ups daily. To fund the app, McLeod collected checks of $5K to $10K from anyone willing to invest. He even deferred a job offer from McKinsey with a six-figure salary to focus on Hinge, eventually turning it into a success. By 2015, Hinge raised $26M before being acquired by Match Group. Today, McLeod remains Hinge's CEO, with the app earning $396M in 2023. He advises Gen Z entrepreneurs to balance idealism with practicality, encouraging them to take action rather than overthink their career paths.
Activists Push for Change at Match Group Following Post-Pandemic Slowdown and Valuation Drop
FINANCIAL TIMES – Starboard Value revealed in July that it had built a 6.6% position in Match Group. Elliott Investment Management, according to S&P Global Market Intelligence, amassed a stake of 4.5% earlier this year and got Match to add two new board members and sign an information-sharing pact. Anson Funds Management, a smaller fund, also has a stake. Activists have good reasons to push for change. Dating apps enjoyed a surge in popularity during Covid-19 but have struggled with a post-pandemic slowdown in growth. At its 2021 peak, Match was worth ~$50B. Its value now stands at just $9.3B. Bumble, which went public in 2021, is down 90 % since its IPO. Match still remains highly cash-generative, with $829M in free cash flow last year. Starboard thinks there is an upside if Match can turn around Tinder, cut costs and ramp up buybacks. The activist sees potential in Hinge. However, it also urged Match to consider selling itself if it cannot revitalize the business.
See full article at Financial Times
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Match Group and Uber Team up for Safe Dating Guide for College Students
DALLAS INNOVATES – Match Group has partnered with Uber and nonprofit It's On Us to create a safe dating guide for college students. The guide offers safety tips for on- and off-campus dating, including using app-specific tools like Tinder's Verification and Uber's "Check Your Ride." It's available through It's On Us chapters, campus ambassadors, and online. This initiative is part of ongoing efforts to promote safety and respect in college dating.
Match Group Names Sean Edgett Chief Legal Officer & Secretary
PR NEWSWIRE – Match Group has appointed Sean Edgett as its new Chief Legal Officer and Secretary, effective Sep 23, 2024. Edgett, who previously served as Senior Vice President and General Counsel at Twitter and most recently as Chief Legal Officer at UPSIDE Foods, will be responsible for leading Match Group's legal functions. He will report directly to CEO Bernard Kim and relocate to Los Angeles.
Gen Z and Millennials Are Leaving Tinder for Hinge in Search of Serious Relationships
FORTUNE – Tinder is struggling as its user growth flatlines, while Hinge is gaining popularity, especially among Gen Z and millennials seeking serious relationships. Hinge's daily active users increased by 17% YOY, while Tinder saw a 10% decrease. Hinge's appeal comes from being perceived as a platform for meaningful connections, while Tinder struggles with its reputation as a hookup app. Match Group faces the challenge of revamping Tinder to attract more serious daters without overlapping too much with Hinge's audience. Tinder is offering new tools like AI wingmen, developed through a deal with OpenAI, to help Gen Z users with flirting and profile design. Hinge focuses on features like limiting active conversations to promote quality interactions and its "Designed to be deleted" strategy, encouraging serious relationships. Tinder also offers "Super Boosts" and more affordable paid features to attract users, though these have seen limited success.
by Sasha Rogelberg
See full article at Fortune
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